21st February, 2020
It is important for you to read this news account in State Bank of India (SBI). SBI sent SMS to its customers and alerted them that they should complete their KYC by 28 February 2020. If the customer does not get it done, then the transaction from his bank account will be stopped. The Reserve Bank of India (RBI) has made KYC mandatory for all bank accounts.
Know what is KYC?
Define KYC (Know Your Customer) in simple Hindi, then you will say that complete information about the customer. Getting KYC is important for everyone. In a way, KYC strengthens the relationship between the bank and the customer. Without KYC investment is not possible, opening a bank account is not easy without it.
Transactions will be closed due to this
SBI has sent SMS to customers and has asked them to complete KYC by alerting them. The SMS states that KYC documents have to be updated in your account as per RBI guidelines. SBI has said that please contact your SBI branch with the latest KYC documents. In the event of not completing KYC, future transactions in your account can be stopped.
According to the information given on the SBI website, for KYC, the customer has to provide his identity card. The identity card includes passport, voter ID card, driving license, Aadhaar card , NREGA card, pension payment order, identity card issued by post offices, identity card issued by public authority institutions that keep records of identity card issued by them.
Apart from this, a certificate of address will also have to be given. Including telephone bill (not more than 3 months old), bank account statement (not more than 3 months old), letter issued by recognized government authority, electricity bill (not more than 6 months old), Ration card, Identity card issued by trusted employers, Income tax / Estate tax assessment order, Credit card statement (not more than 3 months old), Registered leave & license agreement / Sale deed / lease agreement Print copies, by hostel warden of the university / institution, issued to students living here letter, which was countersigned by the Registrar, the principal / dean of student welfare. In case of students, if they are staying with their relative, then their identity card and address certificate along with that relative's declaration.